Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company
The following information is available for Gonzalez Manufacturing Company for the month ending July 31, 2016:
| Cost of goods manufactured | $254,840 |
| Selling expenses | 85,130 |
| Administrative expenses | 45,000 |
| Sales | 542,210 |
| Finished goods inventory, July 1 | 61,270 |
| Finished goods inventory, July 31 | 55,850 |
For the month ended July 31, 2016, determine Gonzalez's (a) cost of goods sold, (b) gross profit, and (c) net income.
Labels & Amount descriptions
Finished goods inventory, July 1, 2016
Finished goods inventory, July 31, 2016
Sales
Selling Expenses
Cost of finished goods available for sale
Cost of goods manufactured
Cost of goods sold
Gross profit
Administrative expenses
Net Income
Less administrative expenses
Less Finished goods inventory, July 1, 2016
Less Finished goods inventory, July 31, 2016
(a)
| Gonzalez Manufacturing Company | |
| Cost of Goods Sold | |
| July 31, 2016 | |
| $ | |
| $ | |
| $ | |
(b)
| Gonzalez Manufacturing Company | |
| Gross Profit | |
| July 31, 2016 | |
| $ | |
| $ | |
(c)
| Gonzalez Manufacturing Company | ||
| Net Income | ||
| July 31, 2016 | ||
| $_________ | ||
| Operating expenses: | ||
| $ ______ | ||
| ______ | ||
| Total operating expenses | ______ | |
| $______ | ||
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https://www.youtube.com/watch?v=F7JMMy-yHSU
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The following economic transactions are drawn from a
country's balance of payments for the 2016 in US dollars
billions.
i) Export of civilians
goods.
224.4
ii) imports of civilian
goods
368.7
iii) military sales
abroad
8.9
iv) military purchase
abroad
12.6
v) exports of service (investment income & fees earned, foreign
tourism)
139.5
vi) import services (investment income paid out) 117.2
vii) Net unilateral transfers
(gifts)
15.7
viii) foreign private investments in home country 202.7
ix) Home country investments
overseas 94.4
x) Foreign official lending in home country 34.7
xi) Home country lending
overseas
1.9
xii) Net in home country official reserve 0.30
You are required to categorise the above transactions as either credit or debit in balance of payments account.
Develop the following:
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2.Current account balance
3. Capital account balance
4. Official reserves balance
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